For the holiday, I traveled with my elderly parents. They are at an age when medical problems take a toll and make life challenging. Helping them over the years has taught me some lessons that all of us should heed, whether we’re still working or in retirement.
Both my parents are in their early 90s. They retired at the age of 59 and 62, which means they have been retired for 30 years! When he retired, he had a financial plan that worked with a life expectancy of 75 years.
Obviously, he beat it by a huge margin. But just 30 years ago, 75 was considered the maximum lifespan. Now, when we hear of someone passing away before the age of 90, it seems that they passed away early.
So, for those of us who are in our 50s and 60s, we shouldn’t look Present Life expectancy when we plan. It seems logical that we should plan to live past 100.
Here it means…
Retiring at 65 would mean looking forward to possibly 40 years of retirement. Our society will eventually start moving up the expected retirement, which is understandable.
Let’s look at some financial considerations. According to the Census Bureau…
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